PTC India Financial services (PFS) has achieved resolution of one of its stressed loan account in the thermal segment namely 2x300 MW SKS Power Generation (Chhattisgarh) Ltd.
The resolution was achieved under the open bidding process initiated by the Consortium Lenders lead by State Bank of India, wherein, One Time Settlement (OTS) Offer submitted by Singapore based entity Agritrade Resources Limited emerged as the H1 Bidder. Lenders earlier entered into definitive agreement with the Investor on 12th November 2018 and subsequently, post compliance of the condition precedents and on receipt of the OTS amounting to Rs. 137.09 Cr., transaction closed on 18th March 2019. It is also to mention that PFS had made provisioning of Rs. Rs. 204.44 Cr. prior to closure of the transaction.
Due to the closure of the mentioned transaction, PFS stressed loan portfolio has come down by Rs. 341.53 Cr. during Q4 of FY 2019.
Shares of PTC INDIA FINANCIAL SERVICES LTD. was last trading in BSE at Rs.16.5 as compared to the previous close of Rs. 16.65. The total number of shares traded during the day was 37079 in over 115 trades.
The stock hit an intraday high of Rs. 16.85 and intraday low of 16.45. The net turnover during the day was Rs. 617495.